June 13, 2024
PARP Inhibitor Biomarkers Market

PARP Inhibitor Biomarkers Market Is Trending By Rapid Advancements In Cancer Treatment Development

The PARP inhibitor biomarkers market has witnessed significant growth in recent times due to the growing usage of PARP inhibitors in cancer treatment. PARP inhibitors are a class of pharmaceutical drugs used widely in chemotherapy which work by blocking the DNA repair enzyme called Poly ADP-ribose polymerase (PARP). Their efficacy in targeting specific DNA repair deficiencies in cancer cells has resulted in improved clinical outcomes.

The global PARP inhibitor biomarkers market is estimated to be valued at US$ 5.62 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the PARP inhibitor biomarkers market are BASF SE, Chembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Ion Exchange, Kemira Oyj, AkzoNobel N.V., Solenis, Thermax Ltd., Veolia Water Technologies, Accepta Advanced Environmental Technologies, Hubbard-Hall Inc, Beckart Environmental and Ecolab Incorporated. The growing incidence of cancer globally along with the increasing preference for targeted therapy over conventional chemotherapy is fueling the demand for PARP inhibitors. Furthermore, large pharmaceutical players are extensively investing in R&D to develop advanced PARP inhibitor drugs and combination therapies which is expected to drive the market during the forecast period.

Key players operating in the PARP Inhibitor Biomarkers Market Share are BASF SE, Chembond Chemicals Limited, GE Water and Process Technologies, Kurita Water Industries Ltd., Ion Exchange, Kemira Oyj, AkzoNobel N.V., Solenis, Thermax Ltd., Veolia Water Technologies, Accepta Advanced Environmental Technologies, Hubbard-Hall Inc, Beckart Environmental and Ecolab Incorporated. The global PARP inhibitor biomarkers market is expanding rapidly with these key market players actively conducting clinical trials to expand the potential of PARP inhibitors in treating other cancer types like prostate, breast and pancreatic cancers. Furthermore, they are exploring combination therapies of PARP inhibitors with immunotherapy and developing more selective third-generation PARP inhibitors to minimize toxicity and improve efficacy.

Market Key Trends

One of the key trends witnessed in the PARP inhibitor biomarkers market is their increased usage in combination with other targeted therapies like immunotherapy. Several ongoing clinical studies are evaluating the efficacy of combining PARP inhibitors with checkpoint inhibitors for advanced cancers. The rationale behind these combination regimens is that PARP inhibitors can potentially enhance the anti-tumor immune response induced by immunotherapy. Preliminary results from ongoing trials have been promising with improved progression-free and overall survival. This emerging combination strategy is expected to boost the adoption of PARP inhibitors going forward.

Porter’s Analysis

Threat of new entrants: The biotechnology industry requires high capital investment which creates significant barriers for new companies.

Bargaining power of buyers: Individual consumers have limited bargaining power due to lack of consumer knowledge about PARP inhibitor biomarkers.

Bargaining power of suppliers: Suppliers of raw materials and instruments have moderate bargaining power due to limited availability of substitutes.

Threat of new substitutes: Alternative biomarker discovery technologies are emerging but few substitutes currently exist for established PARP inhibitor biomarkers.

Competitive rivalry: Companies compete based on biomarker discovery research and licensing/partnering deals for commercialization.

Geographically, North America currently holds the highest value share in the PARP inhibitor biomarkers market due to developed healthcare infrastructure and high adoption of cancer biomarkers. The Asia Pacific region is expected to witness the fastest growth over the forecast period driven by rising cancer incidence, growing biomarker research in countries like China and India, and increasing healthcare expenditures.

North America is also the largest geographical region in terms of value share for the PARP inhibitor biomarkers market. The United States has the highest cancer prevalence as well as adoption of advanced cancer diagnostics and therapeutics. Major market players are headquartered in the US and have strong biomarker research and development presence across clinical and academic institutes.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.